1:02 pm - FKLI selldown !

Malaysian shares end morning slightly lower on caution about US economy

KUALA LUMPUR (Thomson Financial) - Malaysian shares were slightly lower at the end of the morning session Wednesday, erasing earlier gains as persistent concerns about the US economy led cautious investors to take profits. The market had started firmer, tracking the overnight gains on Wall Street on hopes the Federal Reserve will cut interest rates again at the end of its two-day meeting later in the day. Mining-related stocks and select blue chips gained but failed to provide enough support to the index. The Kuala Lumpur Composite Index finished the session down 1.07 points or 0.1 percent at 1,387,43, off a high of 1,400.90. The FTSE Bursa Malaysia 30-large cap index lost 18.79 points or 0.2 percent to 9,098.79 while the FTSE Bursa Malaysia second board index shed 61.26 points or 0.9 percent to 6,491.56. Decliners led advancers 421 to 204, with 238 stocks unchanged and 526 counters untraded. Trading volume was 379 million shares, valued at 848 million ringgit. (1 US dollar = 3.23 ringgit)